"scared the pants off Congress and the American public." HSA

[rodeodance]

taking his cues from his boses----Jr and Cheney!

http://news.yahoo.com/s/realclearpolitics/20070119/cm_rcp/did_someone_say_personal_savin


Did Someone Say Personal Savings Accounts?

Lawrence Kudlow 1 hour, 51 minutes ago

Fed chief Ben Bernanke strolled up to Capitol Hill yesterday and scared the pants off Congress and the American public. His message? An over hyped, doom and gloom forecast about an entitlement bankruptcy tidal wave slamming American shores.


Unfortunately, Mr. Bernanke and all the other pessimists are using low-ball economic estimates to make their alarmist case.

As far as Social Security is concerned, a set of optimistic (yet eminently reasonable and realistic) economic assumptions exist which lead to no bankruptcy and no trust fund exhaustion.

This scenario--one rarely discussed by most--includes slightly less than 3 percent real economic growth, and 2 percent productivity per year. Over the next seventy-five years, this solid growth forecast keeps the Social Security funds alive and well.

(Bear in mind, real
GDP growth over the last fifty years has averaged 3.3 percent annually. Why would people assume the future will be the worse than the past?)

[Paranoid Pessimist]

1. Because it's highly likely that the future will be worse than the past?